*By Carlo Versano*
One year after his "fire and fury" speech that threatened North Korea and its "little rocket man" leader with annihilation, President Trump addressed the annual United Nations General Assembly on Tuesday, expanding on his "America First" motto and replacing North Korea with Iran as the main antagonist.
Trump said that the sanctions the U.S. imposed on Iran after pulling out of the nuclear deal have hurt the "corrupt dictatorship," while the president substantially softened his tone on North Korea ー which, according to Trump, has taken a "number of encouraging measures" since he last appeared in front of the body.
While North Korean leader Kim Jong Un has not launched a missile test since his June meeting with Trump in Singapore, there is little evidence that the regime has made meaningful steps toward denuclearization.
Trump also referenced OPEC, saying the cartel is "ripping off the rest of the world" by keeping oil prices high. The group has been reluctant to increase supply, and along with impending U.S. sanctions against Iranian crude exports, oil has risen to a four-year high.
But perhaps the most notable thread of Trump's UN address was an apparent change to the country's foreign aid policy.
"Moving forward, we're only going to give foreign aid to those who respect us and, frankly, are our friends," Trump said. That would be a major difference in how America has thought of aid in the post-war era, when it has been seen as a measure of altruism and an extension of diplomacy ー not something transactional.
For an administration that often views foreign policy in stark terms, Trump's speech stayed largely on message.
He rejected globalism and praised sovereignty, viewing the ideologies as mutually exclusive. At one point, he praised his White House for accomplishing "more than almost any administration in the history of our country," a statement that drew chuckles from the assembled world leaders.
"I didn't expect that reaction," Trump said, veering momentarily off script.
Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years. He says the freedom the company used to have to speak up on social issues has been stifled
The Federal Reserve cut its key interest rate by a quarter-point Wednesday and projected it would do so twice more this year as concern grows at the central bank about the health of the nation’s labor market. The move is the Fed’s first cut since December and lowered its short-term rate to about 4.1%, down from 4.3%. Fed officials, led by Chair Jerome Powell, had kept their rate unchanged this year as they evaluated the impact of tariffs, tighter immigration enforcement, and other Trump administration policies on inflation and the economy. The only dissenter was Stephen Miran, the recent Trump-appointee.
After a late-night vote and last-minute ruling, the Federal Reserve began a key meeting on interest rate policy Tuesday with both a new Trump administration appointee and an official the White House has targeted for removal.
The Trump administration has issued its first warnings to online services that offer unofficial versions of popular drugs like the blockbuster obesity treatment Wegovy.
Albania's Prime Minister Edi Rama says his new Cabinet will include an artificial intelligence “minister” in charge of fighting corruption. The AI, named Diella, will oversee public funding projects and combat corruption in public tenders. Diella was launched earlier this year as a virtual assistant on the government's public service platform. Corruption has been a persistent issue in Albania since 1990. Rama's Socialist Party won a fourth consecutive term in May. It aims to deliver EU membership for Albania in five years, but the opposition Democratic Party remains skeptical.
The Trump administration has asked an appeals court to remove Lisa Cook from the Federal Reserve’s board of governors by Monday, before the central bank’s next vote on interest rates. Trump sought to fire Cook Aug. 25, but a federal judge ruled late Tuesday that the removal was illegal and reinstated her to the Fed’s board.
